Waterloo's Avvasi announced today that is has rasied a $15 Million Series B round. The financing was led by Celtic House Venture Partners and Tech Capital Partners.
Joining the investment syndicate as a new investor is the Ontario Emerging Technologies Fund (OETF), a $250 Million fund established by the Province of Ontario to co-invest alongside qualified investors in innovative, high-growth, private Ontario companies.
Avvasi is developing solutions that enable mobile network providers to measure, improve and monetize mobile video.
Avvasi's core technology has deep roots in the Waterloo region. The company's founders were well-known to Celtic House, as they were previously part of the engineering team at Waterloo-based PixStream, a Celtic House Fund I portfolio company. PixStream was acquired by Cisco in 2000.